SOURCE: Cavico Corporation

December 20, 2006 09:45 ET

Cavico's Minority Owned Subsidiary Vinavico Lists Its Shares on Hanoi Securities Trading Center

Vinavico Shares Rise Over 500% Above Listing Price on Opening Day of Trading

LOS ANGELES, CA, and HANOI, VIETNAM -- (MARKET WIRE) -- December 20, 2006 -- Cavico Corporation (PINKSHEETS: CVCP), a Vietnamese company working in the fields of infrastructure development, including the construction of hydropower facilities, dams, bridges, roads, mines and urban buildings throughout Vietnam and the Pacific Rim, announced today that Vinavico Joint Stock Company began trading publicly in Vietnam on Wednesday, Dec. 20 under the symbol CTN. The Vietnamese government previously approved Vinavico to list its shares on the Hanoi Securities Trading Center exchange.

The listing price of the shares was VND 10,000 (equivalent to US $0.625). The stock opened at VND 46,000 and closed at the days high of VND 51,000. (equivalent to US $3.18). Cavico holds 17% of the shares of Vinavico, a joint stock company formed by Vinaconex and Cavico. Vinavico listed 3 million common shares. Pictures of the event can be viewed at: http://www.cavicocorp.com/vinavico.html and also at http://www.hawkassociates.com/cvcpmore.aspx.

Cavico Corporation Chairman and CEO Ha Quang Bui said, "The listing of Vinavico shares on the Hanoi exchange is the second listing of a Cavico subsidiary in the last 30 days. With the successful debut of Cavico Mining & Construction on the Ho Chi Minh exchange, we decided to move as quickly as possible to list Vinavico shares. The listing of these subsidiaries will add value to Cavico as an enterprise and allow these companies to access capital via the Vietnamese public markets."

About Vinavico Joint Stock Company

Vinanvico was founded in 2003. The company specializes in commercial and civil projects, including infrastructure and hydropower, and is also involved in select projects as a financial partner. Vinavico is involved in crucial infrastructure projects, such as Buon Kuop Hydropower, Serepok 3 (Dak Lak), Ban Chat Hydropower, Buontuashar Hydropower, Cua Dat Hydropower and Ngoi Phat Hydropower, and will be involved with future hydropower projects and other construction projects for which Vinaconex and Cavico will be the main contractors. For more information, visit http://www.vinavico.com. A button to convert the site to English is located in the upper right corner of the home page.

About Cavico Corporation

Founded in 2000, Cavico is a major infrastructure construction, infrastructure investment and natural resources conglomerate headquartered in Hanoi, Vietnam. Cavico is highly respected for its core competency in the construction of mission-critical infrastructure including hydroelectric plants, highways, bridges, tunnels and urban community developments. One of the company's primary competitive advantages is its ability to nurture a project "from concept through completion" with a vertical portfolio of interrelated investment, permitting, design, construction management and facility maintenance services. Cavico's project partners include top multi-national corporations and government organizations. The company employs more than 3,000 people. For more information, visit http://www.cavicocorp.com.

A profile for investors can be accessed at http://www.hawkassociates.com/cvcpprofile.aspx.

For investor relations questions, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com, or visit http://www.americanmicrocaps.com or http://www.hawkassociates.com. Investors can also contact Mark Moline at (760) 458-4899, e-mail: mark@cinapsys.com.

Safe-Harbor Statement

This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Cavico Corporation to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Cavico Corporation assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products and services, inability to deliver products and services when promised, inability of potential customers to pay for ordered products and services, and political and economic risks inherent in international trade.

Contact Information

  • Contacts:

    Cavico Corporation Investor Relations
    Hawk Associates, Inc.
    Frank N. Hawkins, Jr.
    (305) 451-1888
    Email Contact

    Media and Communications
    Cinapsys, Inc.
    Mark Moline
    (760) 458-4899
    Email Contact

    For Cavico Corporation
    Timothy Pham
    (714) 843-5456
    Email Contact